Basically, Uniswap's website frontend which is owned and run by a centralized entity in Boston has hard-coded some trading pair routes and it's causing price desync with other pairs which allows arbitrage bots to drain profits out of it. On one such bot (etherscan.io/address/0xfe7f0897239ce9cc6645d9323e6fe428591b821c) you can see almost 22k transactions in 10 days with over 352 ether collected.
Guys, this very well may be the reason why UNI is dumping so much in price. Keep in mind that this kind of arbitrage would not be possible if the Uniswap frontend was coded correctly, we really need a new Uniswap frontend done in a way similar to Metamask
BULLISH AS FUCK for BUIDL. If you don't hold any its literally financial suicide at this point. The DFOhub boys just did an AMA and strongly hinted they are coming out with their own version of Uniswap imminently. The brightest devs in Ethereum are about to BTFO Hayden for shunning their assistance.
providing liquidity fuels the bots. The bots are draining from the pools. I cant really wrap my head around it but all uniswap is is a bunch of pools and I just see bots stacking hundreds of ethers through interacting with them. So even though the pools get 0.3% on every trade, the bots are draining the ethereum out of the pools causing the prices of tokens to drop.
20000 LINK + 1000 ETH => LINK = 0.05 ETH 20000 LINK + 800 ETH => LINK = 0.04 ETH
Take the liquidity out of the pool and all of a sudden there's not enough liquidity for the bots to make profitable trades.
Probably the pools connected to the six main pairs are fine and could continue if those were the only ones on the platform. All the others should get shut down or liquidity providers should stop providing liquidity asap.
Brayden Peterson
How about Unifi? Last i saw was 25c from ath of $4.5
COME on user tell me coins to check if HAYDEN IS stealing or not your money.
Isaac Williams
heavily affected, but dfohub (buidl, unifi and arte) will implement a solution to this problem in the next days. its the only team in the entire crypto sphere that has noticed the uniswap scam!
build is the king of DFOHUB, it's like ETHEREUM to ERC20 Huge potential. Personally I have 70% buidl, 20% unifi, 10% arte. that team (dfohub) is gold.
Noah James
>post-fix Implying those kikes will fix this shit
Eli Perry
Talk to me like a brainlet. You're telling me that my LP tokens for YFI, LINK, Curve, etc. can be moved to a different DEX without my written consent? Is there a way hackers and scammers can abuse this to move them somewhere to steal them or worse use the newly created arbitrage against me through flash loans?
Bentley Martinez
Thank you for the work OP Can you please check our coin CLV?
come on user, I still have 20 more minutes more, tell me more coins to check if uniswap is stealing your money or not.
Adrian Smith
bots are doing arb with hardcoded pools that lag to reflect actual price, slowly draining pools of liquidity they mainly swap for ETH which causes all other tokens to dump
Bentley Stewart
knew something was up with the price action of late! Flag this in all the telegrams and make it known that uniswap is corrupt af!!!
Trying to rek us all; i want a lambo, not a 2001 civic.
Sebastian James
I will create a better exchange on the Cardano blockchain. It will have no vulnerabilities like this and you only need your wallet to use it. I just waiting for the Goguen rollout.
I unironically thought this was a known arbitrage opportunity...did people actually not know this was happening? The alarming part is that Uniswap takes the blame for apparently front running static trade routes AND doesn't care? Uh oh
